The fan of the public security: "Three horses" with Taiwan, the internet How to do insurance?

In public Security's micro-trust account, you only need to spend 25 yuan to buy an aviation delay insurance. If the aircraft arrival time delay more than 2 hours, when you get off the plane, the air delay of the payment will be automatically in the red envelopes.

In the past, insurance companies usually need to print the delay certificate from the airport, and then send the material, so this kind of insurance less people. Although there are already some insurance company's flight delay insurance can be automated claims online, but also need users to the aircraft after the delay to enter information on the Web page.

Public security Design This product's core concept is to be able to achieve the automation of claims, in the background and third-party companies in the system docking, if the flight delay will direct access to delay information, users do not need to do anything to receive insurance payments, the process to reduce to the shortest.

In the flight delay insurance, the most common problem is usually delayed more than 4 hours to pay, if due to airport maintenance, flow control and other factors caused by delays, these are outside the insurance provisions, insurance companies are not responsible for compensation. The insurance policy relaxes the claims standard, changes the flight delay time to more than 2 hours, and any reason delay will pay. On the public security net, there is also a 1-hour delayed flight delay insurance.

Public Security flight delay insurance product Manager Fu said there will be more new ways to play in the future. With Starbucks, for example, it takes a very small premium to get a cup of Starbucks coffee at the time of the wait, and with the airline, you can enjoy the VIP room or the upgrade service after the delay, or you may arrange for the next pick-up.

This is a typical Internet insurance product, not only fully taking into account the user's needs and experience, but also carrying the marketing and customer function-frequent travel of the air travel users are very high quality customers, through such products can get good word-of-mouth, but also to obtain a large number of high-quality customer data. More crucially, the sale of the insurance is based on the online and the scene, and there is no offline sales, and even call centers are not involved.

Similar to flight delay insurance, such as micro-innovation is only a security insurance on an existing insurance optimization, it is a fierce competition in the insurance industry into the market stepping stone. Claims process shortened, claims rules more user-friendly, the Security insurance CEO Chen Jing defined it as "temperature insurance", he hopes to use these new experience to subvert the impression of traditional insurance-the sale of harassment calls, cumbersome claims process, so that the real value to customers, And to serve the people that traditional financial institutions cannot serve, "not insurance companies are selling insurance, but people are buying insurance." ”

November 2013, with a gold spoon set up by the public security insurance officially listed. Alibaba founder Jack Ma, Tencent director of the Board of directors, China Ping ' an founder Ma joint venture set up, of which Alibaba shares 19.9%, China Ping ' An, Tencent, and the company is listed as the second largest shareholder, the listing also attracted Fosun Group chairman Guo and many other business leaders to join.

In a recent study published in Hongyuan Securities, the reform dividend on insurance policies has been released, and the interest rate and rate changes in insurance products are helping to boost premium income, while technological change is speeding up innovation in models, and internet factors such as cloud computing and big data are changing the business ecology of the insurance industry, Some of the blue sea market exploration has not yet begun. Compared with traditional banks, insurance has the function of lower capital cost, longer capital and wider investment scope. The time of the establishment of the public security reform of the insurance industry, insurance is becoming beyond the banking, Peer-to-peer and other internet finance, the next 10 times times the growth of the wind mouth.

An insurance company without an offline team

Public security insurance is located in the overseas beach not far from a small foreign building, compared to the traditional insurance companies to hundreds of thousands of of people's ground troops, the 2-storey building of more than 200 people are all security insurance assets.

Ma Yun said on the first anniversary of the establishment of the Public Security insurance:

"I ran into the biggest insurance company in Hong Kong in 2002 and boasted that he had more than 500,000 employees all over the world," he said. He thought it was his capital, and I was stunned. Today we're going to turn them into costs, and you're going to have to rely on that to beat them. ”

While large insurance companies are laying out online channels, it has become the first insurance company in the industry to have no offline team, and has relied on pure internet business to do 800 million of the premium. Technology accounts for more than half of the more than 200 employees. Chen Jing believes that pure technology-driven companies either become pioneers or martyrs, because the technology is not mature enough to enter the market too early, the examples of martyrs are everywhere. The two most common questions he was asked by industry and regulators were:

Can pure Internet business support the growth of an insurance company?

How to control the risk of innovative business?

Compared with traditional insurance, the biggest difference is that there is no traditional offline network of security insurance. This was one of the most hotly debated issues in the interior from the outset to today. Because there is no offline team, it means that the sales channels and claims to complete online, but also need to do a good user experience, this model in the insurance industry unprecedented.

It's not the salespeople who are wearing a suit and tie to recommend insurance for you. The former insurance company sales are mainly direct selling, the salesman undertook most of the daily work, the system and data requirements are not high. There is no branch office, there is no landing of the salesman and customer face-to-face communication, so most of the day-to-day business through the system to achieve. Compared to the previous sales of information and data, the partners are more from a strong system development capabilities of the well-known Internet companies, so the acquisition of data also use the system docking mode.

This is also limited to the need to line down with the insurance, the public only in the form of outsourcing. Therefore, Internet-style insurance, in addition to emphasizing the scene theory, also needs to establish its own core channels to reduce sales and operating costs. There is no traditional insurance line under the huge operating burden of sales, the establishment of new insurance companies is also a challenge.

For the relatively traditional insurance business such as broken screen, public security has no advantage in data and pricing, its potential looks more like the Internet-style operation to sneak into the scene or channel advantage, such as through Alipay free to reduce the cost of the channel. The risk is also to embed the product into the consumer purchase page of the scene to complete docking.

The thinking of public-security Internet insurance is also undergoing some change. The earliest products, need a clear scene, such as the risk of return is to use the scene to do the product. Development until now, even if only data can be made into products, the birth of weather insurance is a typical example.

37 ℃ High temperature products are aimed at the problem of the rising cost of living in the heat of the city residents. After insuring the product, in the 2014 summer solstice to the summer heat, once the insured city appears 37 ℃ high temperature days exceed the agreed deductible days, you can start to receive the high temperature subsidy compensation. More than the number of days after the loss of a day more than 37 ℃ high temperature days, the insured can receive a daily 5 yuan/a high temperature allowance, each policy can receive a maximum of 100 yuan of insurance. The development of such insurance relies more on weather data available to the Meteorological Office. In the future, the extension of weather insurance to tourism, agriculture and other fields. In the channel, they choose to work with the cat, micro-letter two main mainstream internet platform.

The insurance that Chen Jing wants to do is "temperature insurance". In the past in insurance, the consumer's most vexing part is the claims section, and seizing the core pain point of the claim is one of the key decisions with insurance from passive purchase to active purchase. No huge customer service team, also means that the public can only try to use data to achieve automatic claims, such as the return of insurance is automatic claims.

Flight delay insurance The development of this insurance is related to the optimization of the claims experience. Public security and the same-way cooperation in the weather insurance, as long as the travel day within the designated period of rain, the same journey will compensate its users 10 yuan/person, the fastest in the rain two hours after the automatic transfer to the tourist account. This is also the case with the micro-letter flight delay insurance, which will automatically transfer the premium to the user in the form of a micro-red envelope if the flight is delayed.

Chen Jing that the Internet insurance product thinking has two points: first, a 180-degree turn, many products easy to think from the enterprise itself, and the real Cow product Manager more easily from the user's point of view, so Chen Jing more willing to do a questioner; second, many Internet products emphasize the solution of user pain points, Chen Jing hope to find "itch point" To see if the original products can be optimized to improve the consumption experience.

How to control the risk of new business expansion, the Chen Jing method is the most classical method in finance theory-------decentralization strategy.

The only picture in Chen Jing's office was a photo with Kelly. Kelly the most profound influence on him was the swarm of bees mentioned in "Runaway".

The swarm is not a simple aggregation of countless bees, and when thousands of bees are flapping their wings, a "super organism" emerges from an organism of large swarms of ordinary insects, and no bee controls it, but an invisible hand controls the whole group. Chen Jing's thoughts on the present situation of public security are:

"Banks are in tandem and each process is patchwork," he said. The state of the Internet is more of a juxtaposition, short reaction speed. "The core of this organization is not by management, but by values, which is a stronger bond of value." ”

Public security is now a state of mind--running more than 40 Internet insurance products, seemingly disorganized, but it's actually a risk-control mindset. He said: "Now it seems like a messy state, in fact, by a common goal to maintain, otherwise I may have only two reflection, or very nervous worry about problems all day, or the company completely under control, this is a lot of traditional enterprise transformation is particularly worth thinking." ”

The insurance company on the cloud

2014 "Double 11" that day, all of them sold 150 million return insurance policies, the same day the scale of 100 million yuan. This means that an average of 97,000 policies per minute is required. In traditional insurance companies, most of the use of Third-party insurance system. However, it is a puzzle for the third party system to be capable of such a large amount of computation in a large number of elastic calculations. Users in Taobao shopping, if you need to return and replacement, you can choose to buy insurance in the payment bar, the amount is mostly around 0.5 yuan, when the need to return, by the public security pay the agreed amount. Return insurance means the birth of real Internet insurance, which is also the development of Internet business to the new requirements of insurance-small, massive, fragmented. Public Safety insurance is an internet-driven insurance company, and research and development capabilities are the core competencies of the firm, so the board made an important decision to develop its core system.

All the CTO Jiangxing to the Board of directors under the Junlingzhuang--six months to build a good public security technical framework, do not leave. Although most people thought it was unrealistic to develop the technology in such a short time. Jiangxing in Taobao's research and development Center and Customer Service Center, from 2013 to Alibaba insurance division. has been a technical advisor to help the public, and on April 1, 2014 formally joined the Public security insurance.

Traditional insurance companies often purchase easy and medium soft technical systems, and early adopters use an easy to protect solution. According to the traditional practice, an emerging insurance company needs to build a computer room, buy a server, research and development system. Zhu Yubing is the hardware architecture manager of the public, before coming here in Ping An, China and many financial institutions work. After he came to Ann, he handed in a report to the management according to the practice of the insurance industry.

At that time, the management has done a number of technical research, such as Ibau, Aliyun and other technical systems, the traditional technical solutions are not satisfied. But in order to meet the regulatory requirements of the CIRC, public security has also procured the core business system of the Insurance Regulatory Commission. In the insurance market, the two largest technology providers, such as easy insurance and Zhongke soft, occupy more than 80% of the market share of China's core business system. Ibau's business systems are based on IBM's small machines, oracel databases, EMC storage (IOE), and whether such a business system can handle the massive high-frequency operation.

If the same as the bank to build its own computer room will cost at least tens of millions of yuan, but also need to establish a special operations team, the annual cost of 20%~30%, is the operation of heavy assets. Public security decided to develop its own business system, in order to improve the core competitiveness, and put the business system on the Ali cloud, so that can reduce costs, in need of use, only to spend money on the Ali cloud to buy computing services and storage can be, one-time capital investment less, can also support a large number of flexible calculations.

"In the beginning, we have to do more insurance supervision and regulation of the regulatory needs of the CIRC, really run up when, in fact, can not meet the needs of our front-end business." "Jiangxing told business value". At the earliest, the Ministry of Technology only 4 people, outsourcing team has fifty or sixty people. Outsourcing for the rhythm of the Internet, the outsourcing team will talk about the specific project price talk about the duration, if the price of the project is likely to drag on. The challenge is bigger than Jiangxing imagined, with two veterans in the team except Jiangxing from Ali, who are inexperienced. Fortunately, in the process of technology development, Jiangxing called Ali a lot of mature technology and practical experience, greatly reducing the difficulty of development.

Half a year later, Jiangxing to complete its own system to build. Today, there are about 70 people in the research and development of the company, accounting for 40% of the total number of companies, ordinary projects can be completed in one months, and traditional insurance companies usually take 3-6 months.

It became the first insurer to build a cloud. For similar to the risk of such a return risk, such as the need for flexible calculation and large-scale data transmission of the insurance, due to the need for the return of data in Ali's system, the system built in the Ali Cloud, can reduce data transmission may occur in the delay. Once you encounter a "double 11" peak order, add more servers to the cloud and reduce the cost of a self-built server. For Tencent's Internet insurance business, Jiangxing also built the core system on Tencent Cloud.

The CIRC had concerns about whether there would be any security problems with the data on the cloud. The technical deployment of insurance companies must first be approved by the CIRC, and if the CIRC considers that insurance is problematic in data security, it may be difficult to obtain licences. At first, the security system was used to meet regulatory requirements. After repeated communication with CIRC, they recognized that the cloud was safe.

Jiangxing that the development of the public security has no advantage at the beginning, but precisely because there is no advantage or baggage, so that the public can travel light.

Insurance changed by the Internet

5 cents on the back of the transport risks behind there is a scholar, Huatai insurance is the first partner of Alibaba retreat risk. At the end of 2012, the news said: "Since the end of 2010, Huatai Insurance and the launch of the insurance, the risk of the return of the direct compensation rate of 93% or so, so the insurance has been at a loss, only then the loss of 14 million yuan." ”

Huatai's huge losses in terms of risk of return have sparked debate in the industry, with some thinking that the pricing system was wrong because Huatai had contaminated the data. The internal news revealed that the loss of Huatai retirement risk as the first operating experience is insufficient, and said that the current risk of return has been iterative many versions. The pricing of freight insurance is changing the traditional insurance industry completely by actuaries pricing, it is the use of large data operations, a dynamic model.

Tenghui, the head of the actuarial system, said that the pricing of the return risks had undergone a two-generation model. In the beginning, the risk of return is a more traditional way of pricing, which is based on the historical record of the goods returned by the user. The emergence of the risk of return is also changing the consumer's historical behavior. In the absence of the risk of return, many people may return the product, should not be back. But with this kind of insurance, it only takes a small cost to return a product, and the user may be slightly dissatisfied. In other words, considering that the risk has begun to change user behavior, behavioral changes make the previous pricing model no longer applicable.

"It is not enough to look at historical data and return records statically after this situation, to see the category of shopping." For example, he may not return the food, clothing shoes code number is not correct, the probability of return will be very large. Tenghui explained.

The first version of the risk, will only look at each user and merchants over the past few months of return rate, now the number of return insurance to join the more and more data model, will synthesize several factors to predict the future return rate. Even the public security is difficult to do real-time data extraction to do analysis and calculation. The one-month or last-weekend data from the merchant will be fed back into the next model range. In the previous version of the various versions of the risk of return, there are often hands on the foot, insurance fraud. Therefore, in the withdrawal of cargo risk control of the key link is to make "fraud-proof" system. Until now, there will be special people who regularly look at the return risk data, and constantly adjust the weight of the model.

Another industry in which the risk of return is changed is the actuarial industry. All of Ann's actuaries and data teams account for half. The data team now has about 15 people and plans to increase to 30 in 2015. Future data will involve product design, personalized pricing and accurate marketing of the Internet. "Our team will devote their efforts to the data as a core weapon," he said. "Jiangxing said.

Tenghui is the person in charge, the first in Tian an actuary, and then went to a Japanese-funded company. The companies he worked for were very focused on actuarial work, and the Chairman of the board trained a lot of actuarial colleagues. Colleagues who work with him are now the main force in the actuarial circle, scattered in the major insurance companies in Shanghai. He has 10 years of working experience in the actuarial industry, and his Institute of Actuaries is also aware of the impact of the Internet on actuarial, will regularly do some large data on the industry's impact, actuaries in the new situation how to develop the lectures.

The work of actuaries is indeed changing, as the means of pricing are changing. Before the use of large data, pricing more value The pure causal relationship, now find strong correlation to the impact of pricing.

One obvious change is the difference in data sources. In the past, the data depended solely on the company itself, and the data could now come from partners, shareholders, and even the internet's social and behavioral data, and the pricing needed to consolidate more parameters, which came from outside the insurance system. After the data source Chuxian differentiation, the docking process with the major partners is also changing. Previous data pricing, only with the large partners of the IT staff, the insurance needs of historical data, and now also need to work with other data teams, by the public to say what the data, the major business units in coordination, as a basis for pricing.

Tenghui says today's work is simpler and more complicated. Simply because it will work with more people in the data department to help him get the job done; The complexity is that existing technical methods have broken through the original actuarial models and pricing methods, and the factors that affect pricing are more complex.

Credit insurance is the most serious impact on the pricing model of a class of products. In the past, credit insurance coverage was usually done in a simple and crude manner-at a higher price. Because high rates can compensate for high losses, they can now be layered. Because in the traditional way, only look at a person's work, education, income proof, but these can be faked. After joining the Internet data, you can see that his circle is a number of high consumption or real-name authenticated people, after the crowd stratification, can provide differentiated rates.

In many of the major products, can basically be divided into two categories: the first category is the traditional business, such as the cooperation with millet. Such products can be used less external data, pricing directly determines whether the product can be profitable or break-even, the biggest challenge is the accuracy of pricing; The second category is innovative business, such as credit guarantee insurance. Innovative businesses typically require more data sources, and therefore rely more on Third-party partners to open up data to the public, i.e. data quality and how to quickly access and enter data, which is a much more challenging challenge than pricing.

Tenghui that at present the public security in the pricing aspect will take the low rate when the risk is controllable. From the design of insurance products, the secret of controlling risk lies in the amendment of the rules of insurance clauses. One of the most typical examples is the introduction of a mobile phone broken screen insurance, the product of the cooperative pricing only 1 yuan, but the rate of payment is quite high. There are two ways to control risk: one is to adjust prices, but the price increases after the sales and profits will be reduced; another way is to analyze which type of mobile phone models of higher pay rate using rules.

After analysis, it is found that the main factors affecting the high compensation rate are: model, screen size, the degree of possible breakage, brand, and the user's insurance time, if the user insured the next day to claim, it is likely to be the screen after the break to insure, so will set up some games, indirect verification of the user's mobile phone screen quality.

Zhong Le Bao is a one-year credit insurance for the launch of the public security. The data team will make a certain credit score to the seller, the seller in a certain fraction of the bar to access. The first Test effect is good, the introduction of the participation insurance, the seller's bar design to how high, directly determines the size of this product and profitability. "If my underwriting ability is good, I can lower the score, if it is mainly caused by lower-grade merchants, you can raise the bar." "Tenghui said.

Whether the way to return insurance or credit guarantee can be copied to other industries. Tenghui that even if the data provided by other electric companies to the public are consistent with the data of all the traditional companies, they have accumulated the historical experience of the model, and can also be used as a reference for other electric dealers to do the risk of return.

Can traditional insurance continue to innovate?

Chen Jing has 3 positions on Internet insurance: The first is to do the Internet ecological insurance, such as Ali's retirement risk is in the Internet scene to find channels, followed by direct access to the user's insurance, now the insurance industry, the vast majority of the contribution of premium income to the major channels, insurance companies can establish their own direct access to the user's strong channels, Flight delay insurance is one of them, 90% of the premium pricing is reserved for online travel and airline bookings, to be mediated to reduce channel costs to reduce premiums, and finally to the blank field of future-oriented insurance, which is the largest variable in the future.

The return of freight insurance marks the pure Internet business innovation, and the cooperation between Ann and Millet is to try the Internet into the traditional insurance of another road. In 2014, on the eve of the year, all of Ann officially opened business only 2 months, Fan Lijun heard a news, Millet is looking for accident insurance partners. Fan Lijun has worked in the communications industry for more than 10 years, after the establishment of the group to become a product manager, responsible for the development of 3C insurance.

In the Spring Festival and only a week's time, Fan Lijun found the manager of the Millet project to talk about accident insurance cooperation. After returning from Beijing to Shanghai, she made a first draft to Millet, two days before the new year, the other party said the need for formal programs, so mobilize the company's internal departments emergency meeting to discuss the final plan. The development of an insurance product often involves the rate, the product form, the operation flow, needs the cooperation of other departments. Finally, a year ago to the other party to set the tender, until the Chinese New year, the two sides are still non-stop communication.

2013 after the year, Fan Lijun received a notice that February 8 marked, she was bidding with 4 companies, one of which was the last company to work with Millet, and in the bidding process, the list was in the final, and the 1-hour program speech was finally compressed into 20 minutes.

How can you impress millet in 20 minutes? Mobile phone accident insurance is very mature insurance scope, the business process of each insurance company is similar, if the Li Vanchang, it is difficult to impress the vice president of Millet. So, Fan Lijun decided to make a video story of millet tender, thinking about which scenes users may buy insurance, how to embed the insurance in the Millet Sales Web page, and in the video with the millet their own background music. All information that will involve business cooperation is placed in the hundreds of-page tender for millet, and the RFP details all processes: such as customer response time, business process, etc.

At the end of the speech, Li Vanchang stood up and applauded, saying it was great. In fact, Rice 4 was being developed, and the insurance project was not in a hurry. Fan Lijun received no reply to the project, only to hear that the project was suspended. She cried back to Shanghai from Beijing when she thought the bid had failed. Until June 2014, she received a call from millet to tell them to develop products immediately, the beginning of July a new product. One day, the team and millet in Beijing meeting, all the details of all the good communication.

Jiangxing once in Taobao insurance business with these insurance companies contact, a contract can be signed six months, the final count down, the contract covers more than 140 chapters. Later, the public Ann sent two technical personnel to millet, one months of time, negotiations plus technology development, the public security and millet products in the conference a few weeks ago, all developed. Millet this time the introduction of mobile phone accident insurance is millet repair network constantly improve the results. All Ann does not have its own line of mobile phone repair channels, the reason can be reached with millet cooperation, and millet line repair network is also related to the improvement.

"Millet in the process of the most important is the service, feeling it sold not only an accident insurance, but a paid value-added services." "Fan Lijun said. Paying attention to customer experience is more like a tacit understanding of thinking and values, which is particularly important in the details of cooperation between the two sides. The core of service is response time. Response time is divided into telephone response and offline response time. Since the customer Chuxian, usually the first time to call the service hotline, the public need to answer the hotline according to the location of the customer real-time orders, the customer sent to the nearest repair network.

In the traditional practice, if the mobile phone appears unexpectedly bad, usually first by the repair network to the insurance company audited underwriting, determine whether repair. Sometimes the phone needs to send the insurance company to repair, or send to repair network, wait a few days before they can be retrieved. Millet attaches great importance to the consistency of services, that is, do not let consumers feel the complexity of the process, only need to be sent to the maintenance of millet network can be completed repair. Millet and public security common development technology backstage. Site customers come, will be uploaded through the system photos, similar to car insurance, the first fixed loss and then the photos will be immediately transferred to the insurance company, in the absence of material on the basis of one hours to complete repair.

"Services are primarily response times, and we have taken unnecessary interventions in the process and intervened to intervene." "Fan Lijun said.

Traditionally, sales data after the insurance has been purchased are usually fed back to the insurance company within a certain period of time, or sent in an Excel form. If you use the traditional approach to the insurance company for a week, but in order to avoid some extreme situation caused bad user experience, such as this morning to buy insurance is broken in the afternoon, if you do not update the data to the insurance company's system, repair point is difficult to confirm whether the user has bought insurance and accurate buy insurance time. Therefore, millet requirements for each extreme possibility to do enough preparation, the system must be real-time docking.

It is not hard to find that the cooperation between the people of Ann and millet is not revolutionary compared with the traditional insurance, but only in every small detail so that insurance can be more from the user's point of view. This is what Chen Jing once defined as "temperature insurance."

A bigger chance than a bank

Will the future bank be gone? Once someone asked Kelly at a private party, his answer was: "Certainly, the essence of money is a kind of communication." Ma Yun-Ann's secret weapon positioning as "dt thinking":

The Internet technology is today as it technology in the direction of DT technology loaded. Traditional large state-owned enterprises, must be the best use of IT technology companies, Wal-Mart in the retail industry is also the best companies to use it, ping An insurance may be in the traditional companies to use it technology best. It's core idea is to make themselves more and more powerful, so many of it only integrated virtuous cycle, the more powerful, the more equipment to buy, equipment and facilities, the more powerful they become giants, the world into a villain; DT (Data Marvell) thought completely opposite, You exist to make others live better. Internet technology is to use the lowest cost, to serve the things that can not be served yesterday, the first people do not want to do, the second family can not do, but this society has to do things, this requires technology to solve. ”

In the area of insurance, DT thinking transitions the management risk of insurance to the risk of forecasting. The core of risk prediction is related to two types of data. One is structured data, predicting correlation, and the other is unstructured data that predicts the future. The most unstructured thing is actually the human mind, and when you collect data about a person, you can predict his behavior.

For flight delay insurance, it is not a difficult task to access airline data for the third party software system such as Flight Butler. Chen Jing at Citic Bank's credit card center: "We have cooperated with all the airlines, but we have not applied the data well." "Chen Jing most want to do when the data to form a joint effort on these quality customers to do the credit."

By applying DT thinking to the insurance industry, you'll find that the industry that you used to know has changed. Usually, a health insurance is to do the physical examination first, can not be sick to enjoy insurance. But in turn, you can get sick and buy insurance. For example, you have diabetes, you buy an insurance, but must follow the data, monitoring whether to take medicine on time, regular physical examination, there is no running exercise, through the patient behavior management, reduce morbidity, insurance is cheaper.

Auto insurance is the same, now China's car insurance mainly follow the price of cars, but also through the tracking of people to carry out insurance pricing. With the vehicle networking technology gradually mature, the car will understand the individual driving behavior, if you like to drive fast, rainy days will remind you to avoid risk. Why is insurance able to replace banks? When you book a hotel, usually deduct credit card authorization, but in the way of insurance, in the last Money transaction deduction credit insurance, money trading when Alipay settlement can. Background money trading and bank or peer-to-peer through, is a credit card.

In credit cards, the bad factors that affect credit are more than 20 categories, one of which is death, which is the scope of life insurance. When the insurance is fragmented, it is now possible for people over the age of 60 who are unable to issue a card. If you are linked to social security, then buy a career risk, you can solve the credit problem. This is a good picture of the future, some have begun and life is approaching, some have not started. New opportunities for future insurance are hidden here. Chen Jing believes that the future relies on strong data, credit will become the society's most important financial assets.

Insurance is a tightly regulated industry, and these good dreams require the permission of the public to get the policy. Public security currently does not have the premium trusteeship, the current premium to China safe custody. Usually, the profit model of the insurance company is mainly composed of two parts, one is the profit of the premium deduction and the other is the use of premium investment to generate profits by the operation of the assets.

Berkshire, America's biggest insurer, has taken advantage of the huge profits from the insurance business to invest in large companies such as American Express, Coca-Cola, Gillette, the Washington Post and Wells Fargo. In the past 48 years, the net profit compound rate reached 19.7%, net income of 19.7 billion dollars. Ping An group also relies on insurance to become a full-service financial company covering trusts, banks, securities and asset Management.

The CIRC stipulates that the premium must be managed by a third party before the insurance company submits a certain number of years of business data, and the application of the premium is strictly stipulated. In December 2014, the CIRC approved the policy of venture capital investment fund, and made clear the information disclosure system of Internet insurance products, and set up insurance institution and third party platform exit management. This series of policies are good, can let the public security in the use of premium more imaginative space. How to use live this batch of premium income, it is the variable that the public is in an uncertain way. Chen Jing revealed that the future insurance capital Management will have a new play.

According to the internal data of the public security, Ali scene income in the first year of public safety test water Internet insurance accounted for 90% of its income. Chen Jing said that because Ali is a commodity trading company, it is easier to explore cooperation scenarios.

Tencent more profit is game, the scene for the Internet insurance is relatively virtual, so the development of financial demand is relatively difficult. Chen Jing is Zhangxiaolong with the founder of the Micro-trust before accepting an interview with business value. When the micro-letter was just pushed to pay, the birth of the micro-letter red envelopes solved the problem of too few micro-letter binding cards. Until this year, the expansion of the number of tied cards to push the internet to pay, is still one of the things that micro-trust continues to explore. They are together to explore the possibility of cooperation, whether through insurance to solve the problem of tying cards. And with China's peace of cooperation, more is to obtain insurance license plate after the line online under the tie. Public security to the online part of the sales, and peace focus on the next part of the line. (See the full text of the BT media? "Business Value" magazine, March cover report, exclusive first TI media)

(Responsible editor: Mengyishan)